$400 Million Ballmer Investment in Black-Owned Ventures Comes at a Critical Time
Access to capital – whether through banking or investment – is a longstanding challenge for Black entrepreneurs looking to scale their enterprises. But some much-needed capital is entering the marketplace following a $400 million commitment from billionaire investor, L.A. Clippers owner and Detroit native Steve Ballmer. The former Microsoft CEO, who according to net worth Fortune magazine has a net worth of $76.9 billion, announced that he would allocate $400 million to investment firms Goldman Sachs, Fairview Capital, JPMorgan Chase, Ariel Investment and GCM Grosvenor. These firms would, in turn, invest much of that capital with Black entrepreneurs. Hartford, Connecticut-based Fairview Capital, and Chicago’s Ariel Investment rank...
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Growing Black-Owned Whiskey Brand Makes Splash Into Market
By Andre Ash, Michigan Chronicle A Black-owned whiskey business is taking shape and growth across the country. Duke & Dame is the name of the newly minted company where its vision early-on was to change the way people consumed their experience of drinking whiskey. It aimed to succeed in its goal by creating a premium flavored whiskey that would “stimulate the senses at each stage of the drinking process, with incredible aroma, remarkable taste, and an extremely smooth finish.” In an interview with Michigan Chronicle, one of Duke & Dame’s co-founders talked about how out of the company’s early vision birthed its salted caramel flavored whiskey...
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AUNT JACKIE’S curls & coils SURPRISES FIRST HBCU GYMNASTICS TEAM WITH $25,000
Recently, while on the Jennifer Hudson Show, the newly formed FISK University women's gymnastics team was surprised with a $25,000 check from Aunt Jackie's Curls & Coils. The donation will cover the sixteen-member team's travel expenses enabling these talented student athletes to attend national competitions. This team is the first intercollegiate gymnastics team in HBCU (Historically Black Colleges & Universities) history and will compete against colleges across the country. The women, prior to going on the show, were also treated to a full Aunt Jackie's glam makeover and the studio audience all went home with $100 Aunt Jackie's gift cards. "Having the first HBCU gymnastics team means making history," trumpets Coach Corrinne Tarver. "We are paving the...
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IN MEMORIAM: Jazz Saxophonist Pharoah Sanders, 81
Jazz saxophonist Farrell ‘Pharoah’ Sanders, a pioneer of ‘spiritual’ jazz who lived in Oakland for a time before gaining renown in New York with John Coane’s band in the 1960s, passed away in Los Angeles on Sept. 24, 2022. He was 81. “We are devastated to share that Pharoah Sanders has passed away,” family representatives tweeted Saturday morning. “He died peacefully surrounded by loving family and friends in Los Angeles earlier this morning. Always and forever the most beautiful human being, may he rest in peace.” Tributes like this from on YouTube by nbaccess were seen on social media. “Pharoah was like John Coane. So soft and tempered...
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‘Big Brother’ Crowns First Black Female Winner After 24 Seasons
After 24 seasons, "Big Brother," the summer competition-reality show of CBS, has crowned its first-ever Black female winner. On finale night Sunday (September 25), former Miss Michigan USA Taylor Hale, 27, earned another title and made history as this season's winner of "Big Brother." A jury of nine former houseguests awarded Hale the win and the $750,000 grand prize by a vote 8-1 against Monte Taylor, a 27-year-old personal trainer from Delaware. Hale's historic win came not without hardship as she was mistreated by her castmates and faced microaggressions from the beginning of the game. Throughout the season, the pageant queen faced the block and was up for eviction from the...
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New Name. Same Soul: Real Times Media Relaunches RTM360° as Pitch Black.
Real Times Media has relaunched its cultural marketing company, formerly known as RTM360°, as Pitch Black. Under the new name, the company will continue to help clients connect with Black audiences through a mix of culturally relevant brand communication & outreach initiatives. It currently supports a portfolio of 15-plus clients nationwide. “As RTM360 we have been able to do some great work on behalf of amazing clients around the country. But it felt like with the watershed times of the past few years, that branding no longer accurately reflected the heart of who we are as an organization,” says Tanisha Leonard, president of Pitch Black. “Not...
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Buffalo Unveils First-Ever Monument Dedicated To Black Service Members
Black service members have been honored with a first-of-its-kind monument dedicated to acknowledging their contributions to the U.S. military. On Saturday (September 24), the African American Veterans Monument was unveiled in Buffalo, New York, honoring current and past Black military members, NBC News reports. The historic monument marks the first permanent marker in the nation that recognizes the contributions of African Americans who served in the Army, the Navy, the Air Force, the Marines, and the Coast Guard. Military members, veterans, and city and state officials attended the unveiling ceremony at the Buffalo and Erie County Naval & Military Park, the country's largest military park. “The African American Veterans Monument...
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Black Women’s Equal Pay Day Again Highlights The Racial & Gender Wage Gap
Courtesy of Black Information Network Wednesday (September 21) marks this year's Black Women's Equal Pay Day, which has once again highlighted the racial and gender wage gap. From the beginning of last year, it took Black women until Wednesday to earn as much as a non-Hispanic white man did in 2021 alone. Black Women's Equal Pay Day is calculated based on the size of the wage gap between the two demographics. The National Women's Law Center (NWLC) reports that Black women made 64 cents for every dollar non-Hispanic white men earned. Emily Martin, the vice president of education and workplace justice at the NWLC, said Black women lose "life-changing" amounts of...
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Gov. Newsom Signs Legislation Funding Nation’s First Black Women’s Think Tank
Antonio Ray Harvey | California Black Media Last week, Gov. Gavin Newsom signed a budget trailer bill approving $5 million in funding to the California State University at Dominguez Hills (CSUDH) to house the California Black Women’s Think Tank. The California Black Women’s Collective (CBWC) Empowerment Institute will be a founding partner in the development of the policy research institution. The legislation, Assembly Bill (AB) 179, authored by Assemblymember Phillip Ting (D-San Francisco), paves the way for establishing a policy institute that will focus on improving structures and practices that impact the lives of Black women and girls across the state. “The California Black Women’s Collective...
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First-Of-Its Kind Streaming Service Created By & For Black Women Launches
A first-of-its-kind streaming service created by, funded by, and dedicated to Black women will soon hit households across the nation. According to People, entrepreneur Riqua Hailes Turner has announced the launch of theBW, shorthand for the Black Women Network, which aims to uplift Black women filmmakers and create space for diverse storytelling. The groundbreaking network will be available to download on all major streaming app platforms on Sunday (September 18) and will feature six original programs along with licensed films and series through Allrites, a distribution company. "My goal with theBW is to create a high fidelity streaming app dedicated and created for black women by Black women," Hailes Turner said in a statement....
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